Ottawa resale housing market posts record sales in November
In November 2011 members of the Ottawa Real Estate Board sold 1,020 residential properties compared with 940 in November 2010. That’s an increase of 8.5 per cent. These are pretty good numbers, considering we are in November.
Of those 1,020 sales, 244 were in the condominiums and 776 were in the residential homes.
The overall average sale price of all residential properties (including condos), sold in November 2011 in the Ottawa area was $347,795, an increase of 7.3 per cent over last year.
The average sale price for a condominium-class property was $265,800, almost same as last year and the average sale price of a residential-class property was $373,577, an increase of 9.2 per cent over last November.
Last month was the best November on record for resale home sales in Ottawa. The Ottawa market is still going strong, there are still lots of inventory sellers are confident based on these sales numbers Buyers are also confident, specially with the interest rates staying stable.
It is still a good time to be buying a home.